What is the definition of 'Franchise Owner' in the Degree Wellness Washington Addendum?
Degree_Wellness Franchise · 2025 FDDAnswer from 2025 FDD Document
| AGREEMENTS | of |
|---|---|
| (the | |
| "Addendum") | |
| is | |
| made | |
| and | |
| entered | |
| into | |
| this | |
| day | |
| , 20, by and between Degree Wellness | |
| Franchise, LLC, a Delaware limited | |
| liability | a |
| company | |
| ("Franchisor"), | |
| and | |
| , | |
| corporation/limited liability company/partnership (circle one), ("Franchise | |
| Owner") (collectively, Franchisor and Franchise Owner are referred to hereinafter as the | |
| "Parties"), and is attached to and made part of that certain Franchise Agreement dated | |
| , 20, (the "Agreement") between the Parties. |
Source: Item 23 — Receipts (FDD pages 66–257)
What This Means (2025 FDD)
According to the 2025 Degree Wellness Franchise Disclosure Document, specifically referencing the Washington Addendum, the term "Franchise Owner" refers to the entity entering into the franchise agreement with Degree Wellness Franchise, LLC. The addendum is made between Degree Wellness Franchise, LLC, identified as the Franchisor, and the entity identified as a corporation, limited liability company, or partnership, which is designated as the Franchise Owner.
This definition is crucial for understanding the legal relationship and obligations outlined in the franchise agreement. The Franchise Owner is the party responsible for operating the Degree Wellness franchise and adhering to the terms and conditions set forth in the agreement. This entity is granted the rights and licenses to use the Degree Wellness brand, system, and intellectual property within a specific territory, while also being subject to the franchisor's standards and guidelines.
Prospective Degree Wellness franchisees should pay close attention to this definition, as it clarifies who is legally bound by the franchise agreement. It is important to understand whether the Franchise Owner is an individual, a corporation, an LLC, or a partnership, as this can have implications for liability, taxation, and other legal matters. Franchisees should consult with legal and financial advisors to determine the most appropriate ownership structure for their Degree Wellness franchise.